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Forex Strategy: Holding Short EUR/USD and AUD/USD

Forex Strategy: Holding Short EUR/USD and AUD/USD

2014-07-11 13:00:00
Ilya Spivak, Head Strategist, APAC
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I sold EUR/USD at 1.3644 in line with my long-term fundamental outlook, initially targeting 1.3583. A stop-loss will trigger on a close above 1.3700.

I've also entered short AUD/USD at 0.9414, initially targeting a return to 0.9324. A stop-loss will be triggered on a daily close abovethe July 1 high at 0.9504.

In both cases, I will take profit on half of the trade and move the stop-loss to breakeven on the remainder of the position once the first objective is met.

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